• Sign up
  • ‎What is Shvoong?‎
  • Sign In
    Sign In
    Remember my username Forgot your password?

Summaries and Short Reviews

.

Shvoong Home>Business & Economy>Real Estate>Restriction in Construction Industry - Mumbai Summary

.

Restriction in Construction Industry - Mumbai

Article Review by: Yashwant54    

Original Author: Yashwant S Dalal , President , The Estate Agents Association of India
Other parameters also restrict construction industry :     
The statement “ Land is Scares or Sparingly Available”
is not true ( Between Nawa Seva – Uran to Khapoli ) more then 1 Lakh acres land is available for development , because of more Land is available by Developing Infrastructure at several new area like ,
A.
1 ) Navi Mumbai , 2) Mahanagar Mumbai - III , 3) Redevelopment of Mumbai City by redevelopment by cluster development of A,B, C, D ward by redevelopment of more then 27,000 old building  Implication of several rules i.e Under Section 33/7 . 33/9 , 33/10 , 33/14 ,
2 ) Usability of TDR for every part of Mumbai inclusive of south Mumbai
3 ) Increase FSI from 1.33 to 8 FSI in City and In suburb from 1.33 to 5 by vertical
      growth system like other developed country.
       < subject to development of Infrastructure i.e , Road , Bridges , Water supply ,
       Drainage System , Open Space , Pollution Control , Parking , Power supply , Market
     , Hospitals , Parks , School Colleges , Transportation , Banking facility , Security by
       developing Police Department , BMC Department , Fire Fighting Dept , Traffic
       maintenance & solution and several basic need which can be develop easily , faster
       and comfortably. >  
4 ) Relaxation in Corridor area for redevelopment like other suburban area .
5 ) Removal of Urban Land Ceiling Act ( ULC ) , Which was already scraped .
6 ) Removal of CRZ or relaxation in rules ,
7 ) Development of Bombay Port trust Land approx. 1000 Acres ,
8) Development of  spare land of Airport Authority of India ( AAI ) approx. 900 Acres Land ,   
     from Santacruz ( E )  to Sahar Airport – Andheri – ( E )
9)  Huge Spare land of Western & Central Railway , 
10) Huge spare land of Salt Pam Land for small building and raw houses
11) Mills Land shall be develop for lower income group and middle income group only.
12) Declaration of Construction Activities as Govt. Recognized Industry & and make
      appropriate rules and regulation.
13 ) Housing industry must be keep under Essential Commodity Act and it can not be means of store , hold for speculation and profit making industry .
14) On receipt of IOD & C.C. builder should compete their project within three years at maximum other vice they should be panelized by charging pannulty which may extent to 36 % p.a. and imposed heavy taxes. Also declared subsidy for Housing industry who built house for Lower Income Group and Middle Income Group.
15 ) Govt. have to support Public , Private partnership system,
16 ) Way of Valuation of property ( Ready Raknor ) and rate of Stamp Duty shall be reduced to 1 % and Registration charges is Rs. 1000/ only .
17) Most important is that investment of Immovable property and Investment In shares are count separately and profit & Principal amount can be separately calculated for long term , short term capital gain purposes  same fund is invested again in same type  of investment then only it can be allowed as long term & Short Term Capital Gain . Such investment is restricted to minimum 5 years.
18 ) Govt. should fix the MRP of each and every property subject to standard amenity basis .
19 ) Govt. also declared price of each and every building with consideration of Location , Infrastructure , Quality of Construction and other several parameters like , Tenure of Land , ( Lease : Govt Land / Private Land , Free Hold Land , Slum Redevelopment Project , Mill Project , Redevelopment Project , MAHADA Project ) ,  Age of the Building , Condition of building , Infrastructure ( Security System , Lifts , Garden , Swimming Pool , Gymnasium , Garden , Parking , strategically & Prime Location )and other defects like Pollution , hazardous condition ( Flood , Fire , Pollution , Slum , Unhygienic Area  )  also count  while count price factor .
20 ) Whether Occupation Certificate Granted , Completion is applied and /or granted , Conveyance Deed is executed in the name of Society , BMC Water line is issued or tanker water supply , What was the overhead expenses shall be payable by occupants , Saving or Strength of Sinking Fun and other reserves. Goodwill of the builder is always counted while buying property it is most important factors. 
Published: October 30, 2008
Please Rate this Review : 1 2 3 4 5

Bookmark & share this post

.